The new year brings a new currency for Lithuanians, as, on the 1st January 2015, Lithuania became the 19th member of the euro currency area, replacing the previous Lithuanian litas currency to the Euro at an exchange rate of €1= LTL 3.45280. Lithuanians have 2 weeks to continue paying for items using Lithuanian litas, but…
Lithuania will begin using the euro from 1st January 2015. In preparation for the new currency, the Bank of Lithuania has signed an agreement with the German Central Bank – Bundesbank – regarding the acquisition of euro banknotes in all denominations. Chairman of the Board, Vitas Vasiliauskas, from the Bank of Lithuania stated: “We will…
The European Commission has advised that Lithuania has met the criteria for joining the European single currency, the euro. To be able to adopt the euro, a country has to have government debt below 60% of gross domestic product (GDP), a budget deficit under 3% of GDP, low inflation and interest rates and its own…